SPDR S&P Biotech ETF (XBI) PriceWatch Alert for November 18, 2009
Posted: Wednesday, November 18, 2009 8:05 AM EDT
By: Market Intelligence Center Staff
SPDR S&P Biotech ETF (PCX: XBI) closed yesterday at $51.48. So far XBI has hit a 52-week low of $43.03 and 52-week high of $56.92. XBI has been showing support around 50.59 and resistance in the 52.11 range. Technical indicators are Bearish. XBI appears on the Investors Observer Select ETF and HOLDR list. For a hedged play on this stock, look at a Mar '10 51 covered call (XBI CY) for a net debit in the $48.53 area. That is also the break even stock price for this trade. This covered call has a 122 day duration, provides 5.73% downside protection and a 5.09% assigned return rate for a 15.23% annualized return rate (comparison purposes only). [WBA-Seven Summits Research]
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